5 months on rocket

7406 Oakland St, Detroit, MI, 48211

$329,000

Home List Price

$3,907*

Closing Credit

4 Full Baths
2,262 SqFt
$145/SqFt
Multi
Schools Nearby

Location

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7406 Oakland St, Detroit$329,000

Buyer Closing Credits

$3,907*

1.25% Loan Amount

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Property Highlights

Home TypeMulti Family
ParkingOn Street
Year Built1910
HeatingNatural Gas, Forced Air
CoolingCeiling Fan(s)
BasementYes
MLS #20230098023
Lot Size0.08 Acres
StatusActive

About 7406 Oakland St

Excellent Air BnB and cash flow opportunity! Recently renovated, this 4-unit property offers a mix of studio, one-bedroom, and two-bedroom units, catering to a diverse tenant base and maximizing income potential. This property is in the quickly-growing North End neighborhood, walkable to restaurants and coffee shops. With the potential for steady rental income and the recent renovations minimizing maintenance costs, this quadplex stands as a strategic investment for those seeking to build a reliable stream of passive income in an emerging Detroit neighborhood. Due to location, unit sizes, and separate entrances, this is a versatile investment and could be a blend of short, mid and long-term rentals. Updates include: full unit remodels - kitchens with granite counters and new appliances, bathrooms with new vanities and fixtures, and new flooring throughout. Other recent updates: new furnaces, plumbing, roof, and hot water tanks. Gas and electric meters are separate, so tenants pay their own - water, lawn and snow included in the rent.

Property Details

Property Features

Property Information:

  • Architectural Style: Quadruplex
  • Year Built: 1910
  • Stories: 2
  • Living Area: 2,262 SqFt

Listing Office:

  • Office Name: Berkshire Hathaway HomeServices The Loft Warehouse
  • Office Phone: (313) 658-6400
  • Listing Agent: Jan Dijkers

Interior Features

Interior Information:

  • Basement: Yes
  • Interior: Laundry Facility

Bedroom and Bathroom Information:

  • Full Bathrooms: 4

Exterior Features

Exterior Information:

  • Private Pool: No
  • Exterior: Lighting, Private Entry

Parking Information:

  • Parking: On Street

Lot Features

Lot Information:

  • Lot Size: 0.08 Acres

Utilities

Utilities Information:

  • Heating: Natural Gas, Forced Air
  • Cooling: Ceiling Fan(s)

Other

Directions Information:

  • Directions: From I-75 S, turn right on E Grand Blvd, right on Oakland Ave, subject on right

Price Information

Listing Price Info

Price Summary:

  • List Price: $329,000
  • Price Per SqFt: $145/SqFt

Tax Information:

  • Annual Amount: $2,635
  • Tax Year: 2021
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Housing Market Comparison

See how this home compares to others in Detroit, MI.

Med. Sold Price

$80.1K

Med. Price/SqFt

$69

Avg. Days On Market

49

# of Sold Homes

392

7406 Oakland St vs Detroit

160 DAYS ON ROCKET

+111 Days

$329,000

+$248.8K More

$145/SqFt

+$75 More

KEY TAKEAWAY

This property is $248.8K more than the Median Sold Price and $75/SqFt more than other homes in Detroit, MI.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: Realcomp II Ltd
  • MLS Number: #20230098023

Listing Office:

  • Office Name: Berkshire Hathaway HomeServices The Loft Warehouse
  • Office Phone: (313) 658-6400
  • Listing Agent: Jan Dijkers

IDXDisclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.

IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited.

IDX provided courtesy of Realcomp II Ltd. Copyright © 2024 Realcomp II Ltd. Shareholders. All rights reserved. Originating MLS shown with each listing detail.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/29/2024, 2:25:19 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Listing History

Dec 17, 2020Home Sold
$115,000

Tax History

YEARPROP. TAXASSESSMENT
2021$2,635$17,600
2020$1,248$16,600
2018$1,248$10,600
2017$1,243$10,500

History based on county public records data.

Payment Calculator

$1,710

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,053

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NMLS#3030

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Nearby Schools

school-card-donut-2797497
4
/10
  • University Preparatory Academy (Psad) Elementary School

  • 435 Amsterdam St

  • 0.77 miles

  • Public Charter Grades KG-5

school-card-donut-2797498
3
/10
  • University Preparatory Academy (PSAD) Elementary School

  • 957 Holden St

  • 1.10 miles

  • Public Charter Grades KG-5

school-card-donut-2797499
7
/10
  • Oakland International Academy - Elementary School

  • 4001 Miller St

  • 1.63 miles

  • Public Charter Grades 2-4

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $36,271. The most common annual income of people living in Detroit, MI is less than $35k. The majority of families are single, no kids. The most common level of education of people living in this area is post secondary degree.

All data provided by Home Junction and Claritas


Rocket Homes›Michigan›Wayne County›Detroit›48211›7406 Oakland St

This home is located at 7406 Oakland St in Detroit, MI and zip code 48211 in the Midtown neighborhood. This 2,262 square foot home, which was built in 1910, sits on a 0.08 acre lot. Features: 4 bathrooms. It has been listed on Rocket Homes since November 20, 2023 and is currently priced at $329,000.

While more than 94 listings in Detroit, MI in March 2024 were sold above asking price, there were more than 74 listings sold at asking price, and more than 224 were sold below. The number of listings in Detroit, MI increased by 10.7% between February 2024 and March 2024. Listings spent 49 days on the market in March 2024, and had a median list price of $80,163 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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